Hedge Funds Institutional Investors

Norway's Telenor goes direct


Norway's Telenor Pensjonskasse, one of the top corporate pension funds in the country, has dropped its fund of funds holdings after making the decision to invest directly.

The $847 million plan had invested around $17 million as an initial investment across three fund of hedge funds: two run by Storebrand and one from DnB NOR Asset Management.

It is understood, however, that a combination of relatively high fees and poor performance has seen the plan grow disenchanted with the fund of funds route and the assets have instead been allocated